Saratoga Investment (NYSE:SAR) Price Target Raised to $26.25

Saratoga Investment (NYSE:SAR) had its price objective upped by Compass Point from $24.75 to $26.25 in a research note released on Friday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on the stock. B. Riley reiterated a neutral rating and issued a $25.00 price target on shares of Saratoga Investment in a research report on Thursday, October 10th. Oppenheimer upped their price objective on shares of Saratoga Investment from $23.00 to $25.00 and gave the company a market perform rating in a research report on Thursday, October 10th. Finally, LADENBURG THALM/SH SH lowered Saratoga Investment from a buy rating to a neutral rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $25.42.

Saratoga Investment Price Performance

Saratoga Investment stock opened at $24.10 on Friday. The stock has a market cap of $331.21 million, a price-to-earnings ratio of 19.91 and a beta of 1.32. Saratoga Investment has a 12-month low of $21.56 and a 12-month high of $27.00. The company has a quick ratio of 0.07, a current ratio of 0.22 and a debt-to-equity ratio of 0.14. The business’s 50-day simple moving average is $23.21 and its 200 day simple moving average is $23.23.

Saratoga Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Wednesday, September 11th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 12.28%. The ex-dividend date of this dividend was Wednesday, September 11th. Saratoga Investment’s dividend payout ratio (DPR) is currently 244.63%.

Hedge Funds Weigh In On Saratoga Investment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAR. Quadrature Capital Ltd raised its stake in Saratoga Investment by 80.3% in the fourth quarter. Quadrature Capital Ltd now owns 100,385 shares of the financial services provider’s stock valued at $2,595,000 after purchasing an additional 44,722 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Saratoga Investment by 8.2% during the second quarter. Commonwealth Equity Services LLC now owns 22,224 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 1,677 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Saratoga Investment in the 1st quarter valued at $710,000. Avantax Advisory Services Inc. increased its stake in shares of Saratoga Investment by 7.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 11,393 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 832 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Saratoga Investment by 21.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 22,843 shares of the financial services provider’s stock worth $530,000 after buying an additional 4,016 shares in the last quarter. 19.09% of the stock is owned by institutional investors and hedge funds.

About Saratoga Investment

Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.